Wednesday, November 08, 2006
So I entered a stock pick competition pool at work, where about 15 of us pick a stock and the highest rate of return at the end of the year (not including dividends) wins the pot. The pool is a $20 buy-in so the winner stands to gain a nice amount of cash. I love what Apple Computers and Steve Jobs is doing with the company; I figured it was a sure lock to win it all with all the new products they have coming out, and not to mention collaborating with Intel. After Apple Computers released 3rd quarter earnings numbers, my stock pick rallied from eighth place to second place in my pool behind, of course, eBay Inc.! I was on top (well second place) for only one day when Netflix released its 3rd quarter earnings numbers. Netflix soared to first place with a one day return of nearly 20%, doubling its position, did I mention in one day! The pool is not over until the end of the year, but at the rate Netflix is going there would have to be some pretty awful news for this stock to fall out of first place. I'm not advocating purchasing this stock or any stock for your own portfolio; just want to point out the unbelievable year Netflix is having.